Southern Rim Parts estimates its manufacturing overhead to be $374,500 and its direct labor costs to be $1,070,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $66,000 for Job 301, $91,000 for Job 302, and $180,000 for Job 303. For the year, actual manufacturing overhead was $394,000 and total direct labor cost was 653,000. Man Overhead applied in eh is applied to jobs o asis of direct labor costs using predeternmined rates. the inventory accounts is as follov Work-in-process inventory Finished goods inventory Cost of goods sold 29,155 87,465 174,930 Required: Prepare an entry to prorate the under- or overapplied overhead. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record the allocation of over- or underapplied overhead. Note: Enter debits before credits. General Journal Transaction Debit Credit 1 No journal entry required View general journal Record entry Clear entry